Foxconn investment in India: Taiwan’s electronics manufacturing giant Foxconn plans to invest heavily in India. According to a Bloomberg report, Foxconn, which produces Apple iPhone Manufacturer, can invest $500 million, i.e. Rs 4100 crore, for two factories in India. These factories will be built in Karnataka. One of these two factories will be used to make iPhones.
Earlier, a subsidiary of Foxconn had announced a total investment of $972.88 million, i.e. 8,000 crores, in Karnataka in March 2023. According to the news of Bloomberg, the company is paying attention to some basic requirements before investing in Karnataka. Only after this will it be announced officially.
Karnataka Minister Meets Chairman Of Foxconn
Karnataka ministers MB Partil and Priyank Kharge have met the company’s chairman Young Liu to discuss Foxconn’s investment in the state. According to the news of ANI, this meeting has been very positive, and in the coming time, the company can make some important announcements regarding this. Giving information on the matter, MB Partil has said that due to the industrial policies of the state government, a favourable environment has been created for investment in the state.
In such a situation, more investments will be seen in the state in the coming times. After meeting the chairman of Foxconn, the minister said that the company is considering setting up another plant in the state.
Increasing Foreign Investment in India
It is worth noting that tension has increased in China, America, and Europe after Corona. Many companies are turning to India to reduce dependence on China in electronics manufacturing in such a situation. In such a situation, electronic manufacturing is gaining momentum in the country.
Along with this, the central and state government is trying to attract companies by giving them incentives. Due to this, new employment opportunities will be created in India in the coming times.
